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Search Results 0 to 49 of about 82 (some duplicates have been removed)
costs will surpass those from hurricanes irene and katrina. although there are countless businesses hurt, others could see a boost. erika miller reports. >> reporter: when you consider the massive amounts of flooding, downed trees, and damage to transportation networks, it could take days-- if not weeks, to tally up the financial costs from the storm. but already there are predictions sandy will be the most expensive clean-up in u.s. history. the most serious damage appears to be caused by flooding along the east coast. according to economic tracking firm i.h.s. global insight, property damage will likely surpass $20 billion. add to that as much as $30 billion in lost business, and the total financial toll could end up being close to $50 billion. hotels, stores, airlines, and restaurants have lost business they wot get back. insurance companies will have to make big payouts, which will likely mean higher insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global p
it will be sold for a plot of property on the beach. >> did we learn enough from katrina? it seems that people did evacuate, but we didn't have the same problems post-katrina that we did last time in terms of people getting to safety ahead of the storm. from your observation, do you think that's accurate? >> i think all of our professional forecasters -- boy, did they get the right. a week out, they knew this tropical system was going to explode, the way it did take this left hook into new jersey. it has been katrina-esque. the man holding the camera, dwyane scott, was with me in new orleans overnight for that storm. for weeks thereafter, we've been talking about it nonstop today. we may have to rethink some of our shoreline rules and definitions. we've got governors of three states, christie, malloy, cuomo, those three states are talking about a new shoreline and maybe a new normal. maybe we need our folks at the weather channel to tell us, is this a 200-year storm or the start of 200 years worth of storms like this. >> is there a spirit of rebuilding here? do you hear frit the locals? have you b
andrew and katrina. welcome, mr. dan tony. how do you think this storm is going to rank as compared with the biggest storm ever, which was katrina, in terms of insured losses, and andrew? >> well, katrina was an $80 billion insurance convenient, not take nothing consideration the economic impact as well. and a much different type of storm. the biggest problem with sandy it is a densely populated area of the country. early on in the claims process, i believe that the estimates of $20 billion range could be close. then you also have to look at the economic impact with the new york stock exchange being closed for two days, quite a few petroleum refineries shutdown along the east coast that could have an effect, as you had in an earlier broadcast that the airlines -- >> talk me -- >> thousands of flights. >> let's say i'm a small business owner, i own a pizza shop on the jersey shore or i own a dry cleaner out in queens that was damaged, what typically is covered under my business policy that i carry and what suspect? if it's flooding is it covered? >> unfortunately, flooding is an addi
airlines to talk about the impact on the industry and the man who led fema during hurricane katrina will tell us what the federal emergency agency should expect from this storm. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >> we talked
to start rebuilding. up next we have an expert from katrina. >> another look at the damage and devastation after sandy. >> it is now quarter past the hour. it is now just a pile of broken concrete. peter doocy has been down there the past few days. he is in delaware to tell us a little bit about the situation the there>> >> 8.1 million people are still without power. that will be something that continues to be a problem as the days go on. right now it is cold outside. it is 43-44 degrees here in delaware on the boardwalk f. you don't have power you don't have any heat. boardwalk is a little bit sandy different stories of the boardwalk is completely splintered in some cases. folks who are familiar with the boardwalk are not going to remember it or they are not going to recognize it when they go back to visit later on. residents know they are very lucky to have avoided that kind of devastation. >> we were very fortunate. we thank god that the storm went north of us. we never expected new york was going to get anything worse. the city came through much better than anything any of us could hav
process while short term may be an issue for markets over the longer term as seen with katrina where you possibly could see better economic growth after this quarter. >> we'll see about that. that's a really important point. doug, only about one-third of the earnings have beaten expectations, lower than average of the past four quarters. is this an indication of what the markets are headed? we've got one month out of the three months for the fourth quarter in the books. what is your expectation for november and december? >> well i think the economy is slowing. that's clear and you know, when you're doing 1% or 2% gdp growth, it's tough to find 10% earnings growth by cutting expenses but ultimately i think the market's priced for that. we're not trading a market that's 20 times earnings, we're in a market that's 12 times earnings. i think expectations are low. if there was a surprise in october for us and it's something we've been hoping for, if you're at riverfront, you're going to see outperformance overseas so for four years the u.s. has kicked the rest of the world's butt, in other wo
remains filled with water and must be pumped out. >> and massive pumps used in hurricane katrina have begun to drain the opportunity el there. kennedy airport will reopen on a restricted basis today but la guardia is still under power and newark doesn't even have power. amtrak could have limited service today. as for the subways, engineers will have to inspect the 600 miles of track once the water is pumped out of there. >>> in sports, the wizards open the regular season with john wall on the bench nursing an injury. the cavs would jump to a 16- point lead. they drop the opener, 94-846789 the home opener is saturday night against the celtics. there goes your 82-0 start for the wizards. >> okay. we still have plenty ahead. >> fox 5 morning news at 4:30 starts now. happy wednesday. it is october 31st. a live look outside right now at the washington monument as people try to recover and get back to some sense of normalcy after what we've been through in the last couple of days with hurricane sandy. i'm sarah simmons. >> i'm wisdom martin. welcome to fox 5 morning news. the federal govern
to katrina, that very first night when people thought the storm had passed, what we thought the conditions were, when daylight came the next morning and we found out it was vastly different and much worse. we're hoping that we don't have that situation here in new york. we don't have levees in new york, but when daylight comes, we may be open for a rude awakening. as for thathat's dangling over the city, make no mistake about it. that is extremely serious. when you have a piece of metal like that hanging, think of a hanger and something called reverse bending fatigue. you keep bending it enough, and the wind bends it and bends it, just like with a hanger, back and forth, back and forth, it will eventually break. let's hope that is not going to happen here. that's a very dangerous situation, a very large crane. now to go to the very latest on sandy's path. meteorologist rick reichmuth in the fox extreme weather center. rick? >> i walked by that crane this morning on my way to work and i saw it. i thought how is that crane still up there when you've got winds at that height gusting to 90 to
what's happening there reminds him of katrina. gary, tell me why you believe that. >> reporter: piers, this is a city of 50,000 people right across the hudson river in new york city. yes, it does remind me of hurricane katrina because behind us, we have 50% of hoboken flooded and there are, according to the mayor, thousands of people in their apartments and homes who can't get out right now. so we actually went on a front loader with the mayor, they're using front loaders who rescue people. what's different about this than new orleans, what we saw in katrina in 2005 when we went down streets in boats, there are no casualties. that's the good news. but they're still not 100% sure. people can't leave their homes, not only because the water's deep but because there's live power lines in the water. so as we're going down the street in the front loader we see people waving from the windows, children, men, women, and most of them seem to have smiles on their faces because they have seen the water recede. in new orleans the water kept getting higher. this water is receding but people are wai
comparisons to katrina, there's a reason for it. things are starting to look and feel like a deep, long-haul disaster. the grisly business of finding bodies, the daily realization that the face of the earth has changed, especially along the jersey shore. this is the new contour of the jersey shore. and right where we are is the borderline between two towns which have been in the news, bayhead to the north. six miles down is seaside heights, new jersey, almost impossible to see what's left of the ferris wheel and the amusement tower. from seaside heights, new jersey, this is what we found on the beach, one of the 57 chevy replicas that was part of the ride. the ocean gave this quite a ride. but just pause and think about the number of 4 and 5-year-olds who got their first thrill on a carnival ride at the beach right in this front seat with the safety bar down to protect them. there are two kinds of damage along the jersey shore. these are the first pictures taken from beach level of some of the fanciest sections. one of these houses was valued at $13 million the day before the storm arri
's katrina, ike, andrew, irene, they're all late august or early september storms where the vacation industrial was more vulnerable. right now, it will be interesting to see the tradeoff from staples into discretionary spending. getting into the holiday season. >> just looking at the trading today, when you look at exposed sectors like insurance, retail and construction, do you think we'll get the moves that you would assume or not? >> i'd be careful expecting too big a move here. partly because of volumes, as i mentioned earlier. it's unclear about how exposed these stocks are going to be. i think expect some mixed messages here throughout the day. >> we're seeing certainly the insurers hold up well. there's a sense they may benefit from firmer pricing next year, something households should be aware of, potentially facing higher premiums as a result of this. >> very difficult to pull a trade out of the storm today. >> just one thing about gasoline, it seems to have already moved slightly. anything on the energy side? >> i think if you go back to the past oil flash gasoline spikes re
everything that everybody else did getting ready for it. i was -- i sat through katrina when katrina happened. so i have kind been through a little bit of this before. but this is -- what happened here the skop scope of it. i don't think we know the scope. >> the magnitude is greater than anyone has grasped yet. >> this is where we need our news media to come in. if i may we need fewer reporters standing in waist-high water seeing they are going to be blown over and more real reporting, real news. what's going on. >> i have heard that criticism. i don't agree and i will tell you why. when i see someone standing in atlantic city in the middle of a boardwalk actually in water and i agree with him. anyone man enough that thinks they should be going out for a stroll, walking a dog and looks at that and saysly stay in. >> i was looking ate and watching ali being blown around in new york city. my first thought was why is cnn trying to kill ali velshi? what did he do here? >> ali -- >> for the 2008 crash coverage. >> it is a dramatic image that fully tells the story of how big this is and how danger
. but i don't think you have a situation like we had with katrina where prices just took off because that's where the refineries were, and a lot of things were shut down during katrina. you don't have that in this situation. i mean, there's ample supply out there. so like the markets reacted today, in an unchanged way, i think that's what you are going to have going forward, and that $85 level in crude seems to be building a bottom here. i know we have come off an awful lot. so i don't -- you know, we're trading right around that area. going forward into the elections, we have other things other than just the storm that's going to affect the price of crude and rbob gasoline. i think gasoline, if we get a spike, i don't think it's necessarily due to the storm. if we get a drop, it isn't due to the storm as well. i think that will cancel each other out. ample supply. liz: stay safe. i assume you will be back on the floor if they open it. thank you very much for joining us. mike mcpartland there in edge water new jersey. we have breaking news on a day where the markets have been closed and a
associated with the storm. point of reference, hurricane katrina, around $80 billion of damage alone with another $80 billion in economic damage in the aftermath of katrina. so 20 right now for damage in new york, plus another 20, 25 economic activity. i think those numbers will go substantially higher when they really find out. >> steve: plus there are so many houses they haven't been able to get to. the barrier islands south on the jersey shore, people haven't been able to get there because they were essentially washed out. >> gretchen: the interesting thing about politics relating to the storms is what is the right move for politicians, especially when we're six days away from a monumental presidential election? remember the scathing interpretation that president bush got with regard to hurricane katrina. so what is the right response? the president has to come and has to survey the situation, so what should mitt romney do? he's our -- can you imagine the discussions going on inside these camps about what is the right tone? what looks correct? >> eric: i hate to do this, but i rem
katrina and 9/11. this is actually a company that charles has talked about before. take a look at how the dollar is faring today. ♪ from local communities to local businesses. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. >> 22 minutes past the hour. i am jamie colby with your fox news minute. some subways are rolling again. none of them are going into lower manhattan which is still without power. long lines to get a shuttle bus into the city. they carry more than 5 million people a day. the commuter railroads are providing service. in the meantime, all fares are waived through midnight tomorrow night. all three new york airports are back in service. even on a limited basis. laguardia was the last to come back online due to flooding. everyone should confirm flights before heading to the airport. president obama and mitt romney are back on the campaign trail. after three days focusing on the federal response to the storm, the president w
, there is debris everywhere but there isn't just devastation. this is an katrina that watch everything away. these buildings still exist. there is a heck of a clean up here to do but this can come back. a little worse down the beach in seaside heights and atlantic city but it will come back but look. look at this debris. junk everywhere. this is going to take a while. this is the roof of the tiki bar which is 300 yards up the beach. this was the roof of it and that is deposited here. i leave you with this shot at the atlantic ocean. it occurred to me today that as i look out there it is almost like nothing happened. the ocean is saying i was upset but i am calm now. i may not stay calm forever but you are good for while. connell: that pictures of beautiful and to come back to the isolation is jarring. what stood out to you today? today is the first day you had a chance to walk around the. >> exactly. the first sunny day. the first real nice day. you hit it exactly right. the contrast in the devastation and the beauty. this is typically what we see after hurricane. took a couple extra days b
not to have prepared people properly for this and it becomes another mini katrina situation, it could be literally an election wrecker for the president. conversely, if he handles this very well and it is a huge storm, that can win him the election. it can be politically very important. >> let's be clear. the record is obvious to me, the president has -- we saw what happened in the past in katrina. the president has been very aggressive putting his own boots on the ground. he came through the state of new jersey when we had flooding and the like. so this president to me, he's already proven that point and i know, i know from my work in preparing today, that the federal government is ready for this challenge and they will meet it head-on and deal with the crisis and the aftermath. and i know it's a political issue but i really want to reaffirm to people because the biggest mistakes i've seen often in these storms, especially in the obama administration, has not necessarily been the federal response, it's been from individuals not taking the necessary steps to be ready. and then in the
through like katrina or like irene? >> every storm is different, as i said. we have their own hazards. irene was a storm that moved parallel to the coast with most of the heaviest weather to the right so there were a lot of folks very close to the center in new jersey, for example, that didn't really know that there was a lot going on. this storm instead, first of all, it's much larger than irene. it's coming directly at the coast instead of parallelling it. the effects are spanning hundreds and hundreds of miles, much more so than irene. >> ifill: this storm is hovering with lots of rain centered over one area. how many days do you expect we'll be coping with the fallout from all of that? >> well, i think that it's going to take until wednesday before conditions really significantly improve so that people can get back and start looking at what happened. tomorrow it's still going to be a bad day because the system is going to slow down once it gets towards pennsylvania. it will weaken, but it's going to take a long time for this system to wind down. >> ifill: james franklin of the nat
in new orleans right after hurricane katrina. he didn't want to get in the way of some of the cleanup. of course that disaster response didn't go as well as it looks like president obama is handling the response happening this time. but there is the danger dealing with secret service logistics at a time when regular logistics, just living every day life, becomes incredibly hard. >> i think it's worth pointing out certainly the obama campaign probably didn't imagine the extent. warmth of the words that chris christie has for the president, but mitt romney held his disaster relief event in ohio yesterday. the question that dogged him that he would not answer was about fema. take a listen. >> governor, what should fema's role be? governor, would you eliminate fema if you were president? >> well, it's either 11 or 14 times, depending on whose count you believe. the campaign released a statement saying that romney would not abolish fema but, quote, governor romney believes that states should be in charge of emergency management in responding to storms and other natural disasters in their j
're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still 20 some odd people dead in new york alone. 2 million people without power. for those of you that live around here, we hope you're safe and your homes are okay and families are okay. if you're in other parts of the country or the world trying to trade today, there are going to be business decisions, trading decisions to be made. >> we don't know how badly the insurance is going to do. it's up to you. you may think it's bad for insurance. maybe it's good. we don't have a good ballpark of how much and more importantly, so much of the damage is flooding, which historically has been one of those things where you call the insurance company and they say did you read the fine print? we don't cover flooding. the federal government has at various times extended flood insurance and helped people. particularly when anyone remembers the fiasco where the federal government says, listen rich people, you can build beautiful houses again. th
did getting ready for it. actually, i was -- i sat through katrina. so i kind of have been through a little bit of this before. but this what happened here, i don't think we know the scope oist. >> i think you are right. >> this is why we need the news media to come in. we need fewer of the reporters standing in waist high water and more real reporting real news. what is really going on. >> i have heard that. i don't agree with you. when i see somebody standing there in atlantic city in the middle of the boardwalk in water, the point of him doing that, i believe, and i agree with it, is there anyone mad enough to think that they should be growing out for a stroll walking the dog and looking at that and say it what is wrong with you? >> i was watching it. and my first thought is why is cnn trying to kill ally? what did he do here? >> because it is a dram mastic image at how big this is. >> it does and it doesn't. i mean, if it saves one life isn't it worth it? >> well, yeah, but there is a lot of things that you can do on cnn to save lives. but you can do that on another show. there
of these scenes reminiscent of katrina. what weird images coming from the storm. unbelievable. >>> when we come back this morning, the stock exchanges will be up and running today. that's a bit of good news. but what about tens of thousands of new york city marathon runners? the race set for sunday. >> that's the million dollar question. >>> and a bird's-eye view of the terrible impact of sandy, right here in the big apple. with over 200 varieties, keurig makes brewing a delicious cup of coffee simple. how does it brew such great coffee? well... inside the brewer are these green fields of coffee, and if you travel up this mountain, there's this huge coffee grinder. and then the coffee lands in this cup and water rushes through. actually, i just press this button. brew what you love, simply. keurig. living with moderate to semeans living with pain.is it could also mean living with joint damage. help relieve the pain and stop the damage with humira, adalimumab. for many adults with moderate to severe ra, humira is clinically proven to help relieve pain and stop joint damage. so you can treat more
Search Results 0 to 49 of about 82 (some duplicates have been removed)